Northern Rock’s David Baker opts for early retirement
by Kay Murchie
Following the nationalisation at crisis-torn Northern Rock, changes were announced to the board. It has now been revealed that David Baker, deputy chief executive, is to retire after over 30 years at the bank.
Mr Baker, aged 54, leaves the company on May 2 and has been described as ‘outstanding‘. He was appointed as the company’s deputy chief executive in September 2005.
Mr Barker said Northern Rock has recently entered a new phase under temporary public ownership and I think this is the right thing to do at the right time.
Mr Barker was part of the management team’s proposal to take-over the bank. The other rescue package was from a consortium led by Sir Richard Branson’s Virgin Group.
Both bids were unsuccessful leaving the Government to rush through legislation to nationalise the bank and place former Lloyds of London boss, Ron Sandler, in charge. Mr Sandler commended the ‘immense contribution‘ Mr Baker had made and wished him a long and happy retirement.
Mr Sandler and the rest of the team are involved in a plan to revive the struggling bank.
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